Hello community, I come here to share my bitcoin analysis, for that I used the excel function (forecast spreadsheet), put the values of prices in dollars in the daily period, did the same with the capitalization market values and made a graph combining the values,
Just remember that "prices" are just a subjective way for people to measure how much they value something using numbers. We don't have to think about the price of Bitcoin in terms of Dollars. That's just how we're conditioned. We could start pricing Bitcoin in terms of time and energy instead.
But way or another, Bitcoin will win out because it is the fairest and most secure accounting information system that the world has ever seen.
I have a question about using Btc to make purchases. Say I have 100 in btc to buy something then the value of btc goes down and that’s now only worth 90 dollars. What do I do then? Do I just use more bitcoin to pay for it?
Bitcoin’s price needs to grow 100x to be worth a million dollars. Metcalfe’s law states that a network’s value is the square of the number of users. So if the total number of bitcoin users only gets 10x bigger, each BTC will be worth a million dollars
This is the enemy. Never forget. Bitcoin is about preserving more of your wealth. The FEDERAL RESERVE cannot be trusted, EVER. Historically they've destroyed the value of the dollar, and they'll continue to do so.
I teach math and here is my attempt at trying to explain our current economic system graphically, showing what the value of the US Dollar, CPI, Gold, S&P, Art, Wages, House prices and Bitcoin have done over time
So we all know that our education system is horrendous. People graduate high-school, and even university, without fully appreciating that there are different systems at play in our current economy and that we have choices as to what systems we would like to invest our time and money on. To help get this point across I just finished putting together a set of videos to explain this. There are 6 videos in this set, the last two (Part 1, Part 2) bringing everything together by showing how the value of the US Dollar, CPI, Gold, S&P, Art, Wages, House prices and Bitcoin have changed over time. The Table of Contents for the last two videos is: Part 1
"The allocated value of the gold market, where rich people put their money to avoid devaluations, is roughly 8,000 billion dollars. If you divide it by 21 million, which is the number of bitcoins that will be available from the year 2140 onwards, you get 380000 dollars per bitcoin."
I thought this should be the most obvious Bitcoin question, however after weeks of researching, I'm still not totally clear on the answer. I sell one of a kind homemade products, such as what might be found on etsy. Currently if we meet in person, I tell you or a label says it cost $100 and you hand me cash. Or I tell you my name and you write a check. Or I tell you my PayPal address and you pay me. I check my PayPal account to confirm payment arrived. I have also used Square to sell at a street fair. That is a form of credit card payment. Then I give you the object. And I sell online. For that, you go to an internet store that I am on, such as etsy or eBay, and you pay with credit card or PayPal, and not only is payment handled, and moved into my PayPal or bank account, but I also know that transaction has happened and who bought item and who to ship to. The store also makes sure the item is only sold once. (something that could happen, if I just put my PayPal name on a web page, otherwise nothing to stop 5 people from all rushing to buy the same one of a kind item) The store also handles the buyer paying the price that I set for the item. Something that would be handled verbally or by email, if we just did a direct transaction. OK, as I understand it, for Bitcoin I get a wallet or one of the related systems to use Bitcoin ( Bread, Coinbase ... ) and when you go to pay me, I give you a Bitcoin address. If this is in person, and I tell you the price, do I need to set that price in the Bitcoin address? Or is that something that the buyer sets when they send the Bitcoin to me? I assume the wallet will confirm once the transaction has occurred and how much it is? Now for online. I know some merchant sites accept Bitcoin and funds end up in my PayPal or bank, just as with credit card payments. However, I'm interested in setting price and getting paid and receiving payment in Bitcoin. And for the price of Bitcoin to not fluctuate with the dollar. So if I set price at one Bitcoin, that is the price* I assume I can set item at $100 and you can pay in $ or Bitcoin and then the store converts the cost to whatever the value of Bitcoin to Dollars is and you pay in Bitcoin and I receive in dollars. However I want to set price in Bitcoin. So if one Bitcoin you pay in Bitcoin and I receive one Bitcoin into my Bitcoin address, not to my bank, credit card of PayPal. How is this done online? If I put my Bitcoin address on a web page, then 5 people can try to buy at the same time. I did research online stores, and they all seem to be of the model of price is in dollars, but we accept Bitcoin. Just as with eBay, where have home country currency, but they accept currency from other countries. And I looked into merchant systems, they did not seem designed for one person to use, more for company to roll into their store website AND they were all set up to accept Bitcoin and move into your bank in dollars or such. So that someone big, such as an airline, could accept in Bitcoin. I just want to set a price in Bitcoin and sell something. I'm open to use an existing merchant site or something that I can easily add to a web page. OR if there is a sort of protocol or etiquette that people expect, I'm open to that. Such as: Please get in touch with me at this email address, or direct private message, as with reddit sales. And then you pay to my Bitcoin address. Much as would do with PayPal. I'm not selling 1000's so this is a viable way to handle this. Although a direct button one web page might seem more professional or be more useful. *Bonus question, how do I set the price? .0001 Bitcoin or should I use Satoshi? Or is this sort of a matter of what makes sense for the situation, such as 5 dollars and 53 cents. Also, as I understand, there is a transaction fee and this is usually paid by buyer. Also there is a delay in transaction being verified, I assume my Bitcoin account will show when transaction safely closed, so that I know when I may ship the item.
What the impact if Bitcoin is valued in 1 million dollars? What would be the benefits for society in general? Tons of new millionaires or even billionaires would permit a fairest distribution of goods and money and create more opportunities to innovations?
I keep seeing analysis on altcoin USD price actions but no mention of how Bitcoin prices pull that dollar value all over the place. It's misleading to think it's just the alt's action alone! IMHO look at satoshi value for trading. I wrote an article about it, perhaps you will find it informative :)
The Crypto Daily – Movers and Shakers – July 26th, 2020. It’s a mixed start to the day after yesterday’s breakout. A Bitcoin fall through to sub-$9,675 levels would signal a possible reversal. The current Bitcoin to US Dollar exchange rate is 9,905.40.The price is calculated based on rates on 197 exchanges and is updated live every few seconds. To see the latest exchange rate and see Bitcoin historical prices, head over to the Bitcoin page. Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto View the Bitcoin Vault (BTCV) price live in US dollar (USD). Today's value and price history. Discover info about market cap, trading volume and supply. Bitcoin Price (BTC USD): Get all information on the Bitcoin to US-Dollar Exchange Rate including Charts, News and Realtime Price.
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